100 Carat Diamond Garners $22.1 Million in Record-Breaking Sale at Sotheby’s New York

April 22, 2015byLogan Sachon

The Magnificent Jewels sale on April 21 at Sotheby’s New York set several new records for the auction house’s New York location, including the highest total sale.

The auction was led by a 100.2 ct. emerald-cut perfect diamond, dubbed the Ultimate Emerald-Cut Diamond, which sold for almost $22.1 million, making it the highest price for any colorless diamond auctioned in New York. It is the first 100 ct. diamond sold at auction in New York and also the largest perfect diamond in a classic emerald cut ever sold at auction anywhere.

“This diamond is exceptional in every sense of the word, and we were thrilled to see it achieve such a strong result,” said Lisa Hubbard, chairman of the Sotheby’s International Jewelry Division, North and South America. “Including today’s result, only six perfect diamonds weighing over 100 carats have sold at auction in the last 25 years—a testament to the incredible rarity of these stones. Sotheby’s sold five of those spectacular diamonds, including sales in Geneva, Hong Kong, and now New York.”

Ten total jewels achieved prices of more than $1 million (four were sold to online bidders), including the second highest price of the auction—$3.25 million for a 22.3 ct. diamond ring.

“It was encouraging to see the impact of private collectors throughout the day, including at the highest end of our sale: Eight of our top 10 pieces were purchased by private individuals,” said Gary Schuler, head of Sotheby’s New York jewelry department.